Lab 1 - Andrew Cheung February 16, 2009 Lab #1 Abstract...

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Andrew Cheung February 16, 2009 Lab #1 Abstract Pre-Lab Answers: 1. The data presented is Secondary Time-Series data because it is data from a secondary source and describes an item (Real GDP) over a series of time. 2. Te OECD is the Organization for Economic Co-operation and Development originating from France and currently encompassing 30 countries. These 30 countries are considered “developed” and have high incomes as well as high Human Development rates. 3. Purchasing Power Parity is a theory that relates all countries in terms of exchange rates. It takes into account the cost of living in the area as well as inflation rates and can describe percentage wise how much more expensive products can be in other countries. 4. Almost all of the countries in the data set are part of the OECD, and given that the OECD have meetings together and that the OECD’s goal is to solve economic problems and promote democracy and the market economy. This being said, I expect their relationships are positive and economically beneficial. 5.
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Lab 1 - Andrew Cheung February 16, 2009 Lab #1 Abstract...

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